This is just for fun and observation, and has absolutely no statistical background, nor any proven "anything" §8-)
So, what do we have here?
1. The pattern.
The expanding pivot pattern is very known in the trading world of the Forkers. Personally I don't use it very often in my trading to carve any decision making facts out of it.
Others I know relay heavily on it.
2.There was 75% drop in the first leg.
My thought is, that because the pattern repeats on the second leg, the drop could also repeat. Same here, no proven facts, just tinfoil.
The only point in this second 75% drop I see is, that it's near the prior low, which could be a target for short sellers.
However, let's just observe it and put our tinfoil on §8-)
Happy Sunday folks.
So, what do we have here?
1. The pattern.
The expanding pivot pattern is very known in the trading world of the Forkers. Personally I don't use it very often in my trading to carve any decision making facts out of it.
Others I know relay heavily on it.
2.There was 75% drop in the first leg.
My thought is, that because the pattern repeats on the second leg, the drop could also repeat. Same here, no proven facts, just tinfoil.
The only point in this second 75% drop I see is, that it's near the prior low, which could be a target for short sellers.
However, let's just observe it and put our tinfoil on §8-)
Happy Sunday folks.
On the weekly timeframe, there is even a bigger target on the plate. It's the white Center-Line. At least at the orange Forks CL I would take off 75% of my stake, and let the rest ride for a potential Home-Run.